At its event on Monday, Apple announced its first physical credit card. Apple At its event on Monday, Apple announced its first physical credit card. The company said the Apple Card wouldn't have any international fees or over-limit fees and, perhaps most notably, there wouldn't be fees for missing a payment. The credit card also touts a rewards programme called Daily Cash, where cardholders get 2% cash back when using Apple Pay and 3% when buying directly from Apple.

When Apple's first physical credit card launches later this year, it'll come standard with something people love: no hidden or annoying fees.

The Apple Card , announced onstage at Apple's March event on Monday , will have no international fees or over-limit fees, and, perhaps most notably, no fees for missing a payment, Apple said.

The white titanium credit card - which has no number or security code - also touts a rewards program called Daily Cash, where cardholders get 2% cash back when using Apple Pay and 3% on purchases made via the App Store or iTunes, or other direct-from-Apple buys.

The company said the Apple Card wouldn't have any international fees or over-limit fees. Dave Smith/Business Insider

It has not yet been confirmed whether the Apple Card will be available in South Africa.